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Fuji Shoji fiscal Q4 loss narrows YOY

Fuji Shoji Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥11.25 per share, compared with a loss of ¥26.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥274.4 million, compared with a loss of ¥640.6 million in the year-earlier period.

The normalized profit margin increased to negative 3.6% from negative 9.4% in the year-earlier period.

Total revenue grew 12.2% on an annual basis to ¥7.64 billion from ¥6.81 billion, and total operating expenses increased year over year to ¥8.08 billion from ¥7.83 billion.

Reported net income came to a loss of ¥482.0 million, or a loss of ¥19.76 per share, compared to a loss of ¥685.0 million, or a loss of ¥27.82 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥203.91 per share, an increase of 90.4% from ¥107.11 per share in the prior year.

Normalized net income was ¥4.97 billion, an increase of 87.1% from ¥2.66 billion in the prior year.

Full-year total revenue increased 34.2% from the prior-year period to ¥56.15 billion from ¥41.83 billion, and total operating expenses rose 28.3% on an annual basis to ¥48.26 billion from ¥37.63 billion.

The company said reported net income grew 75.9% year over year to ¥4.81 billion, or ¥197.25 per share, in the full year, from ¥2.73 billion, or ¥110.16 per share.

As of June 26, US$1 was equivalent to ¥123.96.